Transportation Payment Solutions Market: By Technology, By System, By Application, By End User, Retail & eCommerce, Transportation & Logistics, Healthcare, Telecom & IT, Media & Entertainment and Others) and Region Forecast 2019-2030  

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Transportation Payment Solutions Market Size, Share, Growth, Trends, and Global Industry Analysis: By Technology (Contactless Payment, Magnetic Strip & Bar Coding, Near Field Communication, Optical Character Recognition and Smart Card), By System (Electronic Tra, Electronic Toll Collection), By Application (Bus, Car, Toll, Air Travel, Ship, Train), By End User (Banking, financial services and insurance (BFSI), Retail & eCommerce, Transportation & Logistics, Healthcare, Telecom & IT, Media & Entertainment and Others) and Region Forecast 2019-2030  

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Transportation Payment Solutions Market size was valued at US$ 5,266.6 million in 2023 and is poised to grow at a significant CAGR of 16.8% from 2024-2030. Transportation payment solutions are a sort of payment system in which money transactions took via digital methods while transportation. This kind of digital payment can also be referred to as an electronic payment solution during transportation because there will be no actual currency involved. The contactless payment system is anticipated to show a significant growth in the market forecast owing to public convenience and safety and consumes less time to process.

Moreover, the players are focusing on technological advancements to maintain growth in the market. For instance, in February 2022 - Transtura acquires WazoMoney, to launch payment solutions for the mobility sector. Huge demand for transportation payment solutions in the travel and tourism industries and increasing digitalization of the transportation sector are the key driving factors for the high adoption of transportation payment solutions across the world.

Transportation Payment Solutions Market Key Developments: 

  • In February 2022, MercuryGate International, Inc. added smart transportation features, such as embedded analytics, artificial intelligence, and machine learning, to its transportation management solution. The enhanced solution was designed to provide real-time insights into global and local supply chain requirements.

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Transportation Payment Solutions Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

16.8%

Largest Market

North America

Fastest Growing Market

Asia Pacific

Transportation Payment Solutions Market Dynamics

The market is expected to grow at significant CAGR over the forecast years owing to the growing importance of affordable access to rapid transit with the help of smart transit systems. Moreover, the huge demand for transportation payment solutions in the travel and tourism industries and the increasing digitalization of the transportation sector are the key driving factors for the high adoption of transportation payment solutions across the world. Furthermore, Smart tickets offer a cost-effective and efficient way for passengers to manage their travels in public transport. Passengers can also load credit amounts in their tickets in advance for their travel. If the smart ticket is stolen or lost, then users can recover and transfer the amount to another smart card, thereby making it a convenient and secured ticketing application for travelers.

Transportation Payment Solutions Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 5,266.6 million

Market CAGR

16.8%

By Technology

  • Contactless Payment
  • Magnetic Strip & Bar Coding
  • Near Field Communication
  • Optical Character Recognition
  • Smart Card

By System

  • Electronic Tra
  • Electronic Toll Collection

By Application

  • Bus
  • Car
  • Toll
  • Air Travel
  • Ship
  • Train

By End User

  • Banking, financial services and insurance (BFSI)
  • Retail & eCommerce
  • Transportation & Logistics
  • Healthcare
  • Telecom & IT
  • Media & Entertainment
  • Others

By Region

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Key Features of the Report

  • The transportation payment solutions market report provides granular level information about the market size, regional market share, historic market (2019-2023) and forecast (2024-2030)
  • The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis.

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Frequently Asked Questions

The transportation payment solutions market size was valued at US$ 5,266.6 million in 2023

The major players in the market are Payvision, Conduent Business Services, NXP Semiconductors, EOS UPTRADE, Global Mass Transit, Indracompany, Ingenico, Nayax, Xerox Corporation, LG CNS, Longbow Technologies Sdn. Bhd., Atos SE, Samsung SDS and Thales Group.

Asia Pacific is the fastest-growing region for the market.

1.Executive Summary
2.Global Transportation Payment Solutions Market Introduction 
2.1.Global Transportation Payment Solutions Market  - Taxonomy
2.2.Global Transportation Payment Solutions Market  - Definitions
2.2.1.Product Type
2.2.2.System
2.2.3.Application
2.2.4.End User
2.2.5.Region
3.Global Transportation Payment Solutions Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Transportation Payment Solutions Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Transportation Payment Solutions Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Contactless Payment
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Magnetic Strip & Bar Coding
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Near Field Communication
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Optical Character Recognition
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Smart Card
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
6.Global Transportation Payment Solutions Market By System, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Electronic Tra
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Electronic Toll Collection
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
7.Global Transportation Payment Solutions Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Bus
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Car
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Toll
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Air Travel
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Ship
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
7.6. Train
7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.6.3. Market Opportunity Analysis 
8.Global Transportation Payment Solutions Market  By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. Banking, financial services and insurance (BFSI)
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Retail & eCommerce
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Transportation & Logistics
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Healthcare
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Telecom & IT
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
8.6. Media & Entertainment
8.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.6.3. Market Opportunity Analysis 
8.7. Others
8.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.7.3. Market Opportunity Analysis 
9.Global Transportation Payment Solutions Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Transportation Payment Solutions Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Contactless Payment
10.1.2.Magnetic Strip & Bar Coding
10.1.3.Near Field Communication
10.1.4.Optical Character Recognition
10.1.5.Smart Card
10.2.  System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Electronic Tra
10.2.2.Electronic Toll Collection
10.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Bus
10.3.2.Car
10.3.3.Toll
10.3.4.Air Travel
10.3.5.Ship
10.3.6.Train
10.4.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Banking, financial services and insurance (BFSI)
10.4.2.Retail & eCommerce
10.4.3.Transportation & Logistics
10.4.4.Healthcare
10.4.5.Telecom & IT
10.4.6.Media & Entertainment
10.4.7.Others
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Transportation Payment Solutions Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Contactless Payment
11.1.2.Magnetic Strip & Bar Coding
11.1.3.Near Field Communication
11.1.4.Optical Character Recognition
11.1.5.Smart Card
11.2.  System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Electronic Tra
11.2.2.Electronic Toll Collection
11.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Bus
11.3.2.Car
11.3.3.Toll
11.3.4.Air Travel
11.3.5.Ship
11.3.6.Train
11.4.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.Banking, financial services and insurance (BFSI)
11.4.2.Retail & eCommerce
11.4.3.Transportation & Logistics
11.4.4.Healthcare
11.4.5.Telecom & IT
11.4.6.Media & Entertainment
11.4.7.Others
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
11.5.6.Rest of EU
12.Asia Pacific (APAC) Transportation Payment Solutions Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Contactless Payment
12.1.2.Magnetic Strip & Bar Coding
12.1.3.Near Field Communication
12.1.4.Optical Character Recognition
12.1.5.Smart Card
12.2.  System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Electronic Tra
12.2.2.Electronic Toll Collection
12.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Bus
12.3.2.Car
12.3.3.Toll
12.3.4.Air Travel
12.3.5.Ship
12.3.6.Train
12.4.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.Banking, financial services and insurance (BFSI)
12.4.2.Retail & eCommerce
12.4.3.Transportation & Logistics
12.4.4.Healthcare
12.4.5.Telecom & IT
12.4.6.Media & Entertainment
12.4.7.Others
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Transportation Payment Solutions Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Contactless Payment
13.1.2.Magnetic Strip & Bar Coding
13.1.3.Near Field Communication
13.1.4.Optical Character Recognition
13.1.5.Smart Card
13.2.  System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Electronic Tra
13.2.2.Electronic Toll Collection
13.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Bus
13.3.2.Car
13.3.3.Toll
13.3.4.Air Travel
13.3.5.Ship
13.3.6.Train
13.4.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Banking, financial services and insurance (BFSI)
13.4.2.Retail & eCommerce
13.4.3.Transportation & Logistics
13.4.4.Healthcare
13.4.5.Telecom & IT
13.4.6.Media & Entertainment
13.4.7.Others
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Transportation Payment Solutions Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Contactless Payment
14.1.2.Magnetic Strip & Bar Coding
14.1.3.Near Field Communication
14.1.4.Optical Character Recognition
14.1.5.Smart Card
14.2.  System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Electronic Tra
14.2.2.Electronic Toll Collection
14.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Bus
14.3.2.Car
14.3.3.Toll
14.3.4.Air Travel
14.3.5.Ship
14.3.6.Train
14.4.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.Banking, financial services and insurance (BFSI)
14.4.2.Retail & eCommerce
14.4.3.Transportation & Logistics
14.4.4.Healthcare
14.4.5.Telecom & IT
14.4.6.Media & Entertainment
14.4.7.Others
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Payvision
15.2.2.Conduent Business Services
15.2.3.NXP Semiconductors
15.2.4.EOS UPTRADE
15.2.5.Global Mass Transit
15.2.6.Indracompany
15.2.7.Ingenico
15.2.8.Nayax
15.2.9.Xerox Corporation
15.2.10.LG CNS
15.2.11.Longbow Technologies Sdn. Bhd.
15.2.12.Atos SE
15.2.13.Samsung SDS
15.2.14.Thales Group
16. Research Methodology 
17. Appendix and Abbreviations 

Key Market Players

  • Payvision
  • Conduent Business Services
  • NXP Semiconductors
  • EOS UPTRADE
  • Global Mass Transit
  • Indracompany
  • Ingenico
  • Nayax
  • Xerox Corporation
  • LG CNS
  • Longbow Technologies Sdn. Bhd.
  • Atos SE
  • Samsung SDS
  • Thales Group

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